Jim Cramer told the viewers of his "Mad Money" TV show Wednesday the 52-week high list tells us everything we need to know about the market -- though it's not the number of companies hitting 52-week highs that's important, it's the number of industries represented on the list.

Cramer explained that just a month ago, there were only three industries on the list, and they represented people's fears of the market. But today, there are an astounding 25 different industries on the list, a diverse swath of our economy.

Ranked by volume, the most heavily-traded stock to hit a fresh 52-week high Friday was Oracle ( ORCL), rising to $27.38 in early-afternoon trading.

A number of research firms, including Barclays Capital, Caris, RBC Capital Markets and FBR Capital raised their price targets on Oracle shares.

Communications firm Qwest Communications ( Q) rose to a fresh 52-week high of $6.24 on Friday, after hitting an annual high of $6.10 on Thursday. Analysts at Goldman Sachs upgraded Qwest to buy with a price target of $7 per share, noting that it is positioned well to exceed cash flow targets.

Kraft , which makes everything from Maxwell House coffee and Philadelphia cream cheese to Oreo cookies and Trident gum, rose to $31.60 on Friday. The Dow component also hit a 52-week high in the prior trading session.

Analysts from Deutsche Bank have a hold rating on Kraft shares, Credit Suisse rates it outperform, and Soleil and UBS have buy ratings on the stock.

Shares of Bristol Myers Squibb ( BMY) rose to $27.26 on Friday. The pharmaceutical giant recently announced the acquisition of rival drugmaker ZymoGenetics ( ZGEN) for $9.75 per share in cash, or about $885 million.

Dow component Caterpillar saw its shares climb to $73 on Friday. The maker of earth-moving equipment said earlier in the day it won a new 10-year government contract. The Defense Department contract called for 909 wheeled tractor-scrapers for the U.S. Marine Corps and Army units.

Travel booking website operator Expedia ( EXPE) enjoyed share price gains Friday that brought its stock to a fresh 52-week high of $28.90. It also hit a new annual high in the prior session, climbing to $27.71.

DuPont, another Dow component that also repeatedly hit fresh highs this week, gained to $44.16 on Friday. Earlier this week the chemical maker announced the appointment of Timothy P. McCann as president of DuPont Building Innovations, effective Oct. 1. McCann was formerly vice president of DuPont Performance Coatings, Americas.

Berkshire Hathaway ( BRK-B), led by billionaire Warren Buffett, touched a fresh 52-week high of $84.15 on Friday, after topping annual heights to $83.58 on Tuesday.

Cigarette maker Philip Morris International ( PM) repeatedly topped its annual highs this week, rising to $55.60 on Wednesday, and pushing the boundary higher to $55.90 on Friday.

Cramer said with so many sectors rallying, there are lots of opportunities for investors. He said the market can't rally without solid leaders, and the more the merrier. In today's market, we have tons of leaders, he said, and the broadening list is increasingly bullish news.

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